Alston & Bird Consumer Finance ABstract

New York DFS Unveils Two New Divisions Focused on Consumer Protection, Financial Enforcement and Cybersecurity

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New York State’s Department of Financial Services (DFS) recently unveiled two new divisions with broad enforcement authority focused on consumer protection, financial enforcement, and cybersecurity.  Financial service providers should take note as New York and other states continue to shore up their enforcement capabilities. Consumer Protection & Financial Enforcement DFS’ highly touted Consumer Protection and Financial Enforcement (“CPFE”) division was launched on April 29, 2019.  The … [Continue reading] about New York DFS Unveils Two New Divisions Focused on Consumer Protection, Financial Enforcement and Cybersecurity

Washington State Expands Data Breach Notification Law

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Effective March 1, 2020, Washington State House Bill 1071 amends the state’s data breach notification law, expanding the categories of consumer information the unauthorized access of which would trigger notification requirements.  Under current law, … [Continue reading] about Washington State Expands Data Breach Notification Law

House Committee Holds Hearing on “Ending Debt Traps in the Payday and Small Dollar Credit Industry”

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On April 30, 2019, the House Committee on Financial Services held a hearing on “Ending Debt Traps in the Payday and Small Dollar Credit Industry,” which focused on three potential bills. Discussion Draft of Protecting Consumers from Debt Traps and … [Continue reading] about House Committee Holds Hearing on “Ending Debt Traps in the Payday and Small Dollar Credit Industry”

Alston & Bird Publishes Article in “Mortgage Compliance Magazine” Addressing Key Debt Collection Challenges Raised Under the Fair Debt Collection Practices Act as a Major Focus for Industry in 2019

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In February 2019, Alston & Bird Partner Nanci Weissgold and Senior Associate Anoush Garakani, wrote an article published in “Mortgage Compliance Magazine,” in anticipation of the Consumer Financial Protection Bureau’s (“CFPB”) recent Proposed … [Continue reading] about Alston & Bird Publishes Article in “Mortgage Compliance Magazine” Addressing Key Debt Collection Challenges Raised Under the Fair Debt Collection Practices Act as a Major Focus for Industry in 2019